Business
Cronos to enter the Netherlands with acquisition of Europe's largest adult-use cannabis company
Cronos to acquire CanAdelaar for up-front cash consideration of US$67.0M 1 plus cash ...
About this update from Cronos Group Inc
[{"type":"text","content":"Cronos to enter the Netherlands with acquisition of Europe’s largest adult-use cannabis company\n\n\n\n\n Cronos to acquire CanAdelaar for up-front cash consideration of US$67.0M\n \n\n\n 1\n \n\n\n plus cash earnout of 0.5x normalized EBITDA in 2026 and 2027\n \n\n\n\n Up-front consideration represents approximately 1.4x CanAdelaar LTM revenue and 2.4x LTM EBITDA\n \n\n\n 2\n \n\n\n\n\n Will give Cronos #1 market share\n \n\n\n 3\n \n\n\n in the largest adult-use cannabis market in Europe\n \n\n\n\n Enables borderless product strategy, leveraging investments in genetics, R&D, and product development\n \n\n\n TORONTO, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), an innovative global cannabinoid company, is pleased to announce that its wholly-owned subsidiary has entered into a definitive share sale and purchase agreement (the “Purchase Agreement”) to acquire all of the outstanding shares of CanAdelaar B.V. (“CanAdelaar”), the largest cannabis company\n \n 3\n \n operating within the Netherlands’ adult-use cannabis pilot program (the “\n \n Wietexperiment\n \n ”). Under the Purchase Agreement, the shares of CanAdelaar will be acquired for up-front consideration of €57.5 million, or US$67.0 million,\n \n 1\n \n subject to certain customary adjustments, with additional contingent consideration payable in cash based on 0.5x of CanAdelaar’s normalized EBITDA in 2026 and 2027 (the “Transaction”).\n \n\n “Our acquisition of CanAdelaar is a financially compelling and highly strategic transaction that will establish a strategic footprint in Europe and enable us to leverage our investments in borderless products,” said Mike Gorenstein, Chairman, President and CEO of Cronos. “The Netherlands has a deep cannabis heritage, and its coffee shops are known worldwide to have played a foundational role in the evolution of the legal cannabis industry. European expansion is an important area of focus for us, and we were especially intrigued that the Netherlands legislated and established a responsible and well-functioning adult-use cannabis market with the\n \n Wietexperiment\n \n . We are excited to work with the Dutch government, regul...